« previous next »

Author Question: The demand for labor of a perfectly competitive producer: a. is perfectly elastic at the going wage ... (Read 50 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jun 30, 2018
The demand for labor of a perfectly competitive producer:
 a. is perfectly elastic at the going wage rate.
 b. is downward sloping because prices fall when the producer increases output.
 c. is downward sloping because of diminishing marginal productivity.
 d. is downward sloping because prices fall when the producer increases output and because of diminishing marginal productivity.

Question 2

A firm chooses vertical integration to reduce all of the following costs, EXCEPT:
 a. the cost of investing in diversified assets.
  b. the cost of finding a trading partner.
  c. the cost of devising and enforcing an agreement.
  d. the cost of evaluating the other party's performance.


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Child Labor Rates and GDP Worldwide Child Labor Rates and GDP Worldwide
A substrate and its competitive inhibitor A substrate and its competitive inhibitor
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ... A 2.8-kg tool can move on a perfectly smooth ramp that slants at 42° above the horizontal. ...
Competitive firms and maximization Competitive firms and maximization
Video: Exercise and cardiac output

For a complete list of videos, visit our video library